Exclusive to subscribers to the Money Makers Circle Contents - What's new this week - Latest trust profile - Trust and market news - Recent issuance and buybacks - Good reads - Videos and other recordings - Trust price and NAV performance - Z-scores - Investment Trusts Handbook - Appendices
What's new this week On the podcast this week, there are two episodes. In the first, I talk about commercial property in depth with Marcus Phayre-Mudge, the long-serving manager of TR Property (TRY), a trust that invests in the shares of other property funds. In the second, I discuss recent news from the s...
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3i Group (ticker: III) was founded in 1945 as the Industrial and Commercial Finance Corporation to provide funds for smaller UK companies. It joined the London market in 1994, but its shareholders endured a rocky first fifteen years, with strong gains in the TMT boom and in the run-up to the financial crisis, followed in both cases by sharp drawdowns. A rescue rights issue in 2009 put 3i's finances on a firmer footing. Then, in 2012, Simon Borrows was appointed as its CEO, and he streamlined both the business and its investment approach. In 2011, 3i invested in a Dutch discount retailer called...
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On the podcast this week On this week's podcast, I talk first to Richard Hulf, co-founder and managing partner of HydrogenOne Capital, which manages HydrogenOne Capital Growth (HGEN). This specialist vehicle came to market in July 2021 and has experienced both the highs and lows of recent investment trust experience, rising to a premium on launch before falling to a disappointing 50% discount, despite making decent operational progress. We discuss why anyone might think about investing in hydrogen, how and whether the trust can grow without the current ability to issue new equity, recent NAV a...
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